Atari Files for Bankruptcy

Atari Files for Bankruptcy

KANSAS CITY, Mo. — Video game company Atari announced on Monday they have filed for bankruptcy in Paris and New York, REUTERS reported.

The once popular video game system said it plans to sell or restructure all of their assets in the next three to four months. The company is also seeking more than $5 million in financing from a capital group.

Atari SA Chief Executive Jim Wilson said the company’s decision to seek bankruptcy protection was the best option to protect the company and shareholders, and said it would seek to maximise proceeds, REUTERS said.